Historic Two-Unit
For Sale
$530,000
137 39 S Murat St, New Orleans, LA 70119
Updated interiors, preserved Craftsman details, and dedicated driveway parking accompany a flexible two-unit layout.
Property Size2,128 SF
Price / SF$249.06
Days on Market77
Property Features for 137 39 S Murat St
General Information
Standard status
Active
Size
2,128 SF
Property subtype
Multi-Family
Building Details
Year Built
1921
Listing Agency:
REVE, REALTORS
Listed By:
Anne Favret · License #995705535
(504) 300-0700
Source:
Fiorellaavenue
Added: Jul 21
Changed: Sep 11
Last Checked: Oct 4 at 3:37PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of REVE, REALTORS
Investment Insights
Based on property information with market context.
Built in 1921, this 2,128-square-foot duplex contains two residential units, each with 2 bedrooms and 1 bath. The interiors have been freshly painted and feature updated lighting, original hardwood flooring, and preserved Craftsman-era details including doors, mantels, shutters, and brickwork. Each unit also has its own off-street driveway parking space.
The property is located one block from the Canal Streetcar line in New Orleans’ Mid-City area, with access to nearby restaurants, parks, and downtown. The two-unit configuration supports separate occupancy, with each residence offering the same bedroom and bath count.
The property is located one block from the Canal Streetcar line in New Orleans’ Mid-City area, with access to nearby restaurants, parks, and downtown. The two-unit configuration supports separate occupancy, with each residence offering the same bedroom and bath count.
Key Highlights
- Two‑unit duplex totaling 2,128 square feet
- Each unit includes 2 bedrooms and 1 bath
- Built in 1921 with original hardwood floors and preserved Craftsman details
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,946
Cap Rate
5.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$538,920
$538.9K
Cap Rate 7%
$384,943
$384.9K
Cap Rate 9%
$299,400
$299.4K
Market Conditions
NOI Build-Up for 2,128 SF
Gross rent
$42.1K $19.80/SF
− Vacancy
−$3.6K −$1.71/SF
EGI
$38.5K $18.09/SF
− OpEx
−$11.5K −$5.43/SF
NOI
$26.9K $12.66/SF
Area
ZIP 70119
Vacancy
8.64%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$538,920
Cap Rate 7%
$384,943
Cap Rate 9%
$299,400
Alternative Uses
Best Use
Multifamily LT 5
$384.9K
$336.8K – $449.1K
NOI $26,946 @ 7.0% cap · market cap 5.08%
Second Best
Apartment 5plus
$353.8K
$309.6K – $412.8K
NOI $24,767 @ 7.0% cap · market cap 4.67%
Theoretical Best
Office A
$556.8K
$487.2K – $649.6K
NOI $38,978 @ 7.0% cap · market cap 7.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,664
Businesses Nearby
Explore this area
Business Placement
Demographics for 70119, LA
38,048
Population
21,595
Households
1.8
Avg Household Size
37
Median Age
47%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
8,455
Density / Sq Mi
$50,854
Median Household Income
$44,278
Median Earnings
$1,298
Median Rent
$359,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Updated interiors, preserved Craftsman details, and dedicated driveway parking accompany a flexible two-unit layout.
Where is this duplex located?
The property is located at 137 39 S Murat St New Orleans, LA.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,128 square feet; Each unit includes 2 bedrooms and 1 bath; Built in 1921 with original hardwood floors and preserved Craftsman details
